Find the Expected Value

question 190

Multiple Choice

Find the expected value.
-A contractor is considering a sale that promises a profit of $39,000 with a probability of .7 or a loss (due to bad weather, strikes, and such) of $11,000 with a probability of .3. What is the expected
Profit?

• A)$27,300
• B)$35,000
• C)$24,000
• D)$28,000

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Definitions:

Psychodynamic Assumptions

Theoretical perspectives that emphasize the influence of the unconscious mind and childhood experiences on behavior.

Projective Tests

Psychological assessments where individuals respond to ambiguous stimuli, revealing hidden emotions, desires, and conflicts.

Behavioral Assumptions

The underlying beliefs about human behavior that guide the development of psychological theories or interventions.

Humanist Assumptions

A perspective in psychology that emphasizes the study of the whole person and the uniqueness of each individual's experience.